Alerus Financial

Finance & Insurance

Alerus Financial Careers, Pay and Expert Network

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Alerus Financial Corporation (OTCQX: ALRS), marketed as simply Alerus, is a chain of financial institutions headquartered in Grand Forks, North Dakota, with locations in North Dakota, Minnesota and Arizona. Alerus offers banking, mortgage, wealth management, and retirement services. Alerus Financials history dates back to August 29, 1879 with the formation of the Bank of Grand Forks by Mr. S. S. Titus. The bank was the second bank chartered in Dakota Territory. At the time, the bank was located in the back of a smokehouse on South Third Street in downtown Grand Forks. The bank quickly outgrew its building and moved into a new brick structure at the corner of South Third Street and Kittson Avenue. In 1881, the bank took out a federal charter and became known as Citizens National Bank. On July 1, 1890, the bank purchased another Grand Forks bank and took on the name of the other bank: First National Bank. In 1896, the newly merged First National Bank moved into the St. Johns Block building at the corner of DeMers Avenue and Third Street. This corner was viewed by most as the commercial center of Grand Forks and the banks five-story building dominated the intersection. The bank later relocated to another five-story building which was located at 322 DeMers Avenue, one block west of the St. Johns Block.


Market Cap$387.7 million
Revenue$178 million
Net Income$25.9 million
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